Glanbia and Lakeland increase July milk price

Two of the largest milk processors in the country have set their milk price for July.

Glanbia is the first co-op to set its July milk price.

Two of the largest milk processors in the country have set their milk price for July.

Glanbia's newly formed milk collecting and agribusiness branch, Glanbia Ireland, will pay 32.2c/l excluding VAT at 3.6% fat and 3.3% protein for July manufacturing milk. This is a 1c/l increase on the previous month.

“We are pleased to be able to reflect continuing positive dairy market performance, particularly with strong demand for butter and good demand for cheese," said Glanbia chair Henry Corbally. "However, certain parts of the dairy market continue to be challenging, especially powders, and the Glanbia Ireland Board will continue to monitor market developments on a monthly basis.”

Lakeland Dairies, too, has applied a 1c/l increase to its July price. "This is driven by a strong butter market but a very weak market and returns for skim milk powder," the co-op said in a statement. Its base price is level with Glanbia at 32.2c/l excluding VAT.

In Northern Ireland, Lakeland has raised its milk price by 1p/l to 27.5p/l.